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NINETY EIGHT REGENCY

Sounds About Right: San Francisco spending $25M to determine how much parking should cost

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Sounds About Right: San Francisco spending $25M to determine how much parking should cost

by Chris Shunk (RSS feed) on Jul 29th 2010 at 6:32PM

If you reside or frequent a large metropolitan area, you're probably all too aware of the cost to park your vehicle. In cities like New York or Chicago, you can pay upwards of $30 or more for a full day of parking. To make matters worse, even with astronomical costs many drivers can't even find an open spot.

San Francisco is looking for a permanent solution to its parking problems by going high tech and paying big bucks to do it. Frisco is investing $25 million on a new electronic parking system that will constantly gauge demand for spots and raise or lower pricing accordingly. So why go to all this expense and trouble to set parking prices?

Parking that's too cheap may lead to spots getting filled too quickly, which will lead to cars circling around waiting for spots, clogging streets with unnecessary congestion. The goal of the $25 million project is to make parking cheap enough for people to afford it while at the same time expensive enough to ensure spots are always available.

The electronic parking system will work as a network, setting prices between a quarter and $6 per hour depending on demand. The high-tech solution will start with 190 new meters in the Hayes Valley area of San Francisco and in two years end with 6,000 metered spaces and 12,250 spots at the city's 15 parking garages. The system will eventually make it possible for advanced planners to go online to find where the most spots are located. Distracted driving aficionados will be able to search for spots on their smartphone, making it easier for multi-taskers to park and harder for pedestrians and other drivers to avoid getting hit.

link:

http://www.autoblog.com/2010/07/29/sounds-about-right-san-francisco-spending-25m-to-determine-how/

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Croc    268

This is really exciting; I bet I know the guy who's behind this effort--it's either who I think it is or one of his colleagues.

Headline/story are pretty misleading, though...they aren't spending that much money to determine how much it should cost, but rather the money is going toward the district-wide infrastructure necessary for real-time optimal market pricing.

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balthazar    2,014

>>"The goal of the $25 million project is to make parking cheap enough for people to afford it while at the same time expensive enough to ensure spots are always available."<<

Uh-huh- that makes perfect sense. :wacko:

Is there parking currently available anywhere near $6/hr, or is this merely a transparent manner to jack rates in high demand times for more revenue ??

Edited by balthazar

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Croc    268

>>"The goal of the $25 million project is to make parking cheap enough for people to afford it while at the same time expensive enough to ensure spots are always available."<<

Uh-huh- that makes perfect sense. :wacko:

Is there parking currently available anywhere near $6/hr, or is this merely a transparent manner to jack rates in high demand times for more revenue ??

Yes, parking can most definitely be that expensive. San Francisco hates cars, so having one is super expensive. Garages are few and far between, and they are $$$.

It would be interesting to figure out what figures they're using in their algorithm, but I tend to think it's close to the "recognized" 85% ideal occupancy--ensuring a few free spaces per block.

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pow    106

At market rates, there will always be one or two spaces available. Right now at below market rates, people just circle a block endlessly until they find a space, causing congestion.

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